Energy price comparison site uSwitch sounds out float plans

Michael Bow is a reporter at City A.M. covering private equity, funds, investments and asset managers. He can be reached on michael.bow@cityam.com

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Michael Bow

ENERGY price comparison website uSwitch is weighing up plans for a stock market float – just six months after it was injected with funds from its private equity backer LDC.

The website, which allows consumers to compare prices on energy and electricity, is understood to be speaking with City figures about options for the business, including a float.

The proposal, first reported by Sky News, suggests LDC – the private equity arm of Lloyds Banking Group – is conscious of the impact next year’s general election may have on energy prices. Labour leader Ed Miliband has promised to freeze prices, which could lead to customers shopping around less.

A spokesperson said: “As a private, equity backed business, we continually consider options for further investment that will enable us to keep offering the high level of service that we currently provide to our customers.” It did not deny or confirm plans to float the business.

LDC took a controlling stake in uSwitch in August, backing a management buyout of the firm.